Industrial Coatings

Full-year revenue was down 3 percent on 2013, due to adverse currencies and volume. The Packaging business increased volumes in all regions, while Coil Coatings continued to grow in the APAC region – especially China – but declined in Europe. Wood volumes grew in Europe, but declined in APAC.

Q4 revenue was flat compared with the previous year, due to price/mix in Packaging and Coil Coatings and currencies offsetting lower volumes in all regions.